Jurisdiction Reference
Oregon IOLTA
Program: Oregon Law Foundation IOLTA Program
Effective January 1, 2026, Oregon's IOLTA operating rules are in Title 6 of the OSB Rules of Licensure, while RPC 1.15-1 governs safekeeping. Client and third-party funds go to IOLTA unless they can earn net interest for the owner; Oregon also requires eligible insured banks, two institutional agreements, annual reporting, periodic account review, and five-year records.
General information, not legal advice — always confirm against the official Oregon sources below.
Ask about Oregon's IOLTA rules
Deposits, reconciliation, reporting, recordkeeping — answered from Oregon's official sources. Not legal advice.
Quick reference
Plain-language summaries of common Oregon trust-accounting requirements. Use these to orient yourself, then verify the exact rule text through the official sources.
| Topic | Summary | Category |
|---|---|---|
| Apply the current 2026 rule structure | Oregon IOLTA operations are governed by OSB Rules of Licensure Title 6 effective January 1, 2026; RPC 1.15-2 is reserved and RPC 1.15-1 governs safekeeping. | OSB RL Title 6; Oregon RPC 1.15-1 and 1.15-2. |
| Segregate entrusted property | Client and third-party property must be held separate from the licensee's own property in a distinct Lawyer Trust Account. | Oregon RPC 1.15-1(a). |
| Use IOLTA unless funds can earn net interest | All client and third-party funds must be deposited in the licensee's or firm's IOLTA unless the particular funds can earn interest exceeding the costs of generating it. | RL 6.2(1)-(2). |
| Use client-benefit accounts for productive funds | Funds that can earn net interest must use a separate client account or pooled account with subaccounting and payment of net interest to each client. | RL 6.3. |
| Evaluate six net-interest factors | Consider amount, expected duration and delay, rates, account and tax costs, capability to allocate income, and other circumstances affecting net return. | RL 6.4. |
| Review IOLTA placement at reasonable intervals | The licensee or firm must periodically reassess whether client funds can now earn net interest or whether changed circumstances require action. | RL 6.5(1). |
| Request an OLF interest refund when warranted | If IOLTA-held funds did or can earn net interest, transfer them and timely request the permitted verified refund from the Oregon Law Foundation. | RL 6.5(2). |
| Use an authorized federally insured institution | An Oregon trust account may be maintained only at an institution authorized to transact banking business in Oregon and insured by FDIC or an analogous federal agency. | RL 6.6(1)(a)-(b). |
| Require an Oregon Law Foundation agreement | The institution must agree with OLF to remit IOLTA interest at least quarterly and provide detailed account, rate, balance, period, and service-charge reporting. | RL 6.6(1)(c), (2). |
| Require an OSB overdraft agreement | The institution must agree to report properly payable instruments presented against insufficient funds to OSB Disciplinary Counsel whether or not honored. | RL 6.6(1)(d), (3). |
| Pay non-IOLTA bank costs from firm funds | Only listed customary processing charges may reduce IOLTA interest; other fees and transaction costs must be paid by the licensee or firm. | RL 6.6(2)(c). |
| Complete annual IOLTA certification | Every licensee must annually certify whether Oregon trust accounts are maintained and report the institution and account number for each open Oregon IOLTA. | ORS 9.675; RL 6.7. |
| Avoid administrative suspension for nonreporting | Failure to cure missing annual certification and disclosures after notice results in automatic administrative suspension. | RL 6.8. |
| Maintain complete records for five years | Complete records of client and third-party funds and property must be kept and preserved for five years after termination of the representation. | Oregon RPC 1.15-1(a). |
Official sources
The authoritative material for this jurisdiction. Confirm every requirement here before acting on it.
OSB Rules of Licensure — Title 6
Current rules effective January 1, 2026 covering IOLTA, net-interest decisions, banks, reporting, and suspension.
OpenOregon Rules of Professional Conduct
Current RPC 1.15-1 safekeeping, accounting, disputed funds, and five-year records.
OpenOregon State Bar IOLTA Reporting FAQ
Official annual-reporting instructions for every active Oregon lawyer.
OpenOregon Law Foundation — Legal Professionals
Official account, insurance, bank, and program information for Oregon practitioners.
OpenOregon Revised Statutes Chapter 9
Official statutory source for ORS 9.675 annual trust-account certification.
OpenNotes
- Reviewed against Oregon materials available July 14, 2026; the page uses the new Rules of Licensure Title 6 effective January 1, 2026.
- Older resources cite former RPC 1.15-2. Its operational provisions moved into Rules of Licensure 6.2-6.8; current RPC 1.15-2 is reserved.
- This summary is educational and does not replace current Title 6, RPC 1.15-1, ORS 9.675, or OSB and OLF guidance.
Oregon — Frequently asked
Common questions for Oregon trust accounts. General information only — verify against the official sources above.
Where are Oregon's current IOLTA rules?
In Title 6 of the OSB Rules of Licensure effective January 1, 2026. RPC 1.15-1 covers safekeeping; RPC 1.15-2 is now reserved.
What is Oregon IOLTA?
A trust account for client and third-party funds that cannot earn net interest after the costs of generating it.
Which funds go into Oregon IOLTA?
All client and third-party funds unless the particular funds can earn net interest for their owner.
When must Oregon funds benefit the client?
When they can generate net interest, use a separate interest-bearing account or compliant pooled account with client subaccounting.
Which factors determine net-interest potential?
Amount, duration and delay, rates, account and tax costs, allocation capability, and other circumstances affecting return.
Must the IOLTA decision be revisited?
Yes. Review at reasonable intervals and act if changed circumstances make client-benefit interest practical.
What if client funds mistakenly earned interest for OLF?
Transfer them to a client-benefit account and request the verified refund allowed by RL 6.5 within a reasonable time.
Where should Oregon IOLTA be maintained?
Normally in the jurisdiction of the licensee's principal office, subject to the federal-practice provision in RL 6.2.
May any bank hold an Oregon IOLTA?
No. It must be Oregon-authorized, federally insured, and party to both the OLF and OSB agreements.
What does the OLF agreement require?
At least quarterly interest remittance plus detailed reporting of account, balances, rate, period, and allowable service charges.
What does the overdraft agreement require?
The institution reports an insufficient-funds presentation to OSB Disciplinary Counsel whether or not it honors the item.
Which bank fees may reduce IOLTA interest?
Only the customary processing charges listed in RL 6.6; other fees and transaction costs are paid by the licensee or firm.
Who receives Oregon IOLTA interest?
The Oregon Law Foundation, which funds legal services, diversity, and public legal education.
Who must file Oregon's annual IOLTA report?
Every active Oregon lawyer, including those without an Oregon account or whose firm reports through a company administrator.
Must an empty open account be reported?
Yes. Report every open Oregon IOLTA regardless of balance or activity.
What information is reported annually?
Whether trust accounts are maintained plus the financial institution and account number for each Oregon IOLTA.
What if the lawyer only has an out-of-state account?
Use the report's out-of-state option and do not list another state's IOLTA as an Oregon account.
What happens after failure to report?
After notice and an uncured default, RL 6.8 imposes automatic administrative suspension.
How long are Oregon trust records kept?
Five years after termination of the representation under RPC 1.15-1.
What happens to disputed funds?
Keep the disputed portion separate until resolved, promptly distribute undisputed portions, and provide a full accounting on request.